Dollar surges after ECB pulls future rate hikes off the table CURRENCY TRADING SUMMARY –4th July 2008 (00:30GMT) ·U.S. Dollar Trading (USD) experienced an extremely volatile day hitting multi-month lows against Euro before gaining heavily as the large sell off in the Euro dragged the USD up against all the… read more
Daily
The following is a summary of the previous day’s foreign exchange market movements in the major currencies and the commodities markets. It is meant as an informative guide to the reasons underlying currency and commodity movements seen in the previous day’s foreign exchange trading. Together with a market snapshot at close of the New York session, indicators/events released during the session are outlined compared with their expected level of influence before release. This fundamental analysis summary also highlights upcoming data/events which may influence currency movements upon their release.
You will also find a technical analysis snapshot at time of release, highlighting support and resistances of each of the major currencies and gold. Coupled together with the reasons behind these important levels, traders can expect some support or resistance when these levels are reached.
Australian FOREX Daily Outlook 03/07/2008
July 3, 2008US ADP sounds jobs warning, Crude Oil spikes higher CURRENCY TRADING SUMMARY – 3rd July 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was unable to sustain a mild bounce during the European session with markets reacting to a surprisingly negative ADP jobs report of -79K change in June. Forecasts of much… read more
Australian FOREX Daily Outlook 02/07/2008
July 2, 2008USD recieves a boost from ISM Manufacturing Survey, Gold still shining. CURRENCY TRADING SUMMARY – 2nd July 2008 (00:30GMT) ·U.S. Dollar Trading (USD) saw some continued weakness early in the European session as potential profit warnings from UBS and Deutsche Bank sent European and US futures into deep negative territory…. read more
Australian FOREX Daily Outlook 01/07/2008
July 1, 2008Europe Inflation at 4%, Aussie hits 24 year highs against the Greenback CURRENCY TRADING SUMMARY – 1st July 2008 (00:30GMT) ·U.S. Dollar Trading (USD) had a choppy day but was able to recover off lows and make small gains into the US session. Month end adjustment’s and more talk from… read more
Australian FOREX Daily Outlook 30/06/2008
June 30, 2008Record high Crude Oil and increasing risk aversion hurt Dollar. CURRENCY TRADING SUMMARY – 30th June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) continued it’s downward decent as Equities made new yearly lows and Crude Oil scaled new highs. US data was mixed with May Core PCE Price index increasing only… read more
Australian FOREX Daily Outlook 27/06/2008
June 27, 2008GM rumors and Poor Jobs data pummel Dollar CURRENCY TRADING SUMMARY – 27th June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was hit hard on rumours that General Motors was filing for Chapter 11 bankruptcy protection. Although denied later in the day the damage had been done with US stocks trading… read more
Australian FOREX Daily Outlook 26/06/2008
June 26, 2008US FED keeps rates on Hold, Dollar under pressure. CURRENCY TRADING SUMMARY – 26th June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) fell broadly against most currencies as the FOMC kept rates on hold at 2.00% and disappointed dollar bulls in the accompanying statement. Markets were hoping for more inflation fighting… read more
Australian FOREX Daily Outlook 25/06/2008
June 25, 2008US Consumer confidence falls, Market’s preparing for US FED Rate Announcement CURRENCY TRADING SUMMARY – 25th June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) gave up some ground yesterday as June Consumer Confidence fell for the 6th month in a row to 50.4. Most economists were looking for a much milder… read more
Australian FOREX Daily Outlook 24/06/2008
June 24, 2008Weak EUROZONE data helps USD rally, GOLD plunges CURRENCY TRADING SUMMARY – 24th June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) a massive rally against the Euro allowed the greenback to make gains against all the majors yesterday. With little data out from the US focus on Euro data moved the… read more
Australian FOREX Daily Outlook 23/06/2008
June 23, 2008Slumping Stocks puts US dollar under pressure. CURRENCY TRADING SUMMARY – 23rd June 2008 (00:30GMT) ·U.S. Dollar Trading (USD) fresh credit fears sent the dollar lower yesterday as expectations of an interest rate rise decreased. US stocks fell to a 3 month low with Moody’s downgrading bond insurers and increased… read more
